Saturday, May 30, 2015

Saturday roundup (05-30-15)

Greece open to compromise to seal deal this week: interior minister (Reuters) Greek Talks With Creditors Deepen as Payment Clock Ticks (Bloomberg)

Greek Bank Run Continues; Greek Domestic Deposits Lowest In Decade (Forbes) Greek Bank Deposits Bleeding Worsens in April: Deposits hit their lowest level since 2004 (Bloomberg)

Greece suffering as insecurity surrounding debt crisis kills businesses across the country (The Independent)

[Candidate for US President] Gov. Martin O'Malley Says 'New Leadership' Needed to Rein in Wall Street (ABCNews) Prevent another crash, reform Wall Street by former Gov. Martin O'Malley (The Des Moines Register) ["We need to prosecute cheats, we need to reinstate Glass-Steagall, and if a bank is too big to fail without wrecking our nation’s economy then it needs to be broken up before it breaks us again."] (The Washington Post blogs)

May 2015: Unofficial Problem Bank list declines to 324 Institutions (Calculated Risk blog)

How Comedians Became Public Intellectuals: People look to Amy Schumer and her fellow jokers not just to make fun of the world, but to make sense of it. And maybe even to help fix it. (The Atlantic)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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